Qualified Appraisal Reviews by SACRAMENTO VALLEY APPRAISAL GRPAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." SACRAMENTO VALLEY APPRAISAL GRP provides appraisal review services that are impartial, expert, professional and square with the Federal Reserve's rules.
A review appraisal has to verify: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the procedures by which the real estate valuation is accomplished guarantees independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the extent of the appraisal assignment. Lastly, the Fed also says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At SACRAMENTO VALLEY APPRAISAL GRP, we're qualified in all forms of appraisal reviews, review processes and the requirements of review appraisers.
SACRAMENTO VALLEY APPRAISAL GRP understands what constitutes a quality appraisal and what the most common errors are, specifically in our home market. We're also skilled enough to identify that the competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to justly study appraisal reports completed by others. And those others could be reviewing our work, too!
For professional, impartial, ethical appraisal review services and honest judgments, you can depend on SACRAMENTO VALLEY APPRAISAL GRP. Contact SACRAMENTO VALLEY APPRAISAL GRP for more information regarding our qualifications, expertise and services offered.